Who Was Responsible For Blockbuster's Downfall

In this paper I will discuss how Blockbuster video became bankrupt to its competitor Netflix. In 2000, Reed Hastings, the founder of a fledgling company called Netflix, flew to Dallas to propose a partnership to Blockbuster CEO John Antioco and his team. The idea was that Netflix would run Blockbuster’s brand online and Antioco’s firm would promote Netflix in its stores. Hastings got laughed out of the room.

We defiantly know what happened next. Blockbuster went bankrupt in 2010 and Netflix is now a $28-billion-dollar company, according to Forbes, about ten times what Blockbuster was worth. Today, Netflix founder Reed Hastings is widely hailed as a genius and Antioco is considered a fool. To my knowledge this happens a lot in the business world its either a hit or miss, a do or die, and get on now or eat dust later. It’s like an underdog life story start from the bottom and try to make your way to the top, he even presented the idea and basically took the inactive to say hey blockbuster either join us on this proposal or die slowly and watch us

The Netflix company not only took over and saved people a lot more money and even satisfaction. But if you want to truly go in depth about it Netflix helped the economy in an extraordinary amount. It saved it customers money but what about the trouble of spending money on buildings and in store employees, how about the money it took for those millions of customers to drive to the store all the gas used and all that pollution used in the air when now everything is done off the internet where it’s all in home and you never have to leave the confines of your home to gain the access of a movie let alone your avoiding the late fees by having to drive it all the way back for return. Now you talking millions of people making two trips to gain and return